Senior Mortgage Underwriter
This position is responsible for reviewing, analyzing, approving, and underwriting difficult, complex individual consumer requests and products within company and industry guidelines. Dependent on division, functions include reviewing financial statements, credit reports, and applicable ratios(i.e. Debt ratios, loan-to-value); examining transactions to ensure accuracy and completeness; preparing formal reports for review; ensuring that documents are consistent and uphold to company and industry guidelines; implementing fraud detection techniques, performing compliance reviews; assisting with re-negotiations of loans based on lending guidelines, serving as a consultant/technical resource on difficult problems and questions; handling escalated calls: providing work direction, feedback and training to underwriting staff including mentoring lower level underwriters on credit decisioning, department procedures and policies; delivering/facilitating of technical training to ensure organizational consistency. This position also assists with the solicitation, origination, processing, and closing of residential mortgages from application to loan closing to ensure compliance. May act as a team lead and provide performance feedback to less senior underwriters. May act as backup in absence of Supervisor.
This position has customer contact and job duties which may include the offering/negotiating of terms and/or taking an application for a dwelling secured transaction. As such, this position requires compliance with the S.A.F.E. Mortgage Licensing Act of 2008 and all related regulations. Ongoing employment is contingent upon meeting all such requirements, including acceptable background investigation results.
Candidates must meet the Loan Originator requirements under Regulation Z (LO) outlined in the performance standards below.
- Processes loans pursuant to quality control.
- Prepares residential mortgage loan documents, as necessary.
- Responsible for the accuracy of all information in the loan files to meet quality control standards and secondary marketing investor guidelines.
- Ensures compliance with all regulatory policies and procedures.
- Recommends improvements in procedures and processes as necessary to ensure the optimum efficiency and effectiveness of the credit union.
- Performs other duties as required.
- Must meet the Consumer Financial Protection Bureau qualification requirements and comply with related UHFCU policies. The LO qualification requirements include meeting applicable financial responsibility, character, general financial fitness, and criminal background standards. Successful candidates must also meet ongoing regulatory requirements including additional screening, if necessary.
- Provides excellent member service (internally & externally).
- Achieves loan production volumes as determined annually.
- Keeps up to date on credit union and secondary market policies, procedures, and services.
- Loans are processed accurately and timely.
- Executed documents are accurate and in compliance with all lending policies.
Education/Certification: High school diploma or GED required.
Business school, associate degree or equivalent is a plus.
Must be registered with the Nationwide Mortgage Licensing System.
Required Knowledge: Basic understanding of MS Office Suite is desired.
Knowledge of lending regulations.
Knowledge in processing/underwriting procedures.
Experience Required: At least 5 years of underwriting experience in Mortgage Loan Operations, which includes processing and closing conventional first and second mortgage loans pursuant to Fannie Mae, Freddie Mac, and other secondary marketing investor guidelines.
Knowledgeable in secondary marketing investor requirements for quality control.
Familiar with Loan Origination and Automated Underwriting Systems technology involved in the loan process.
Skills/Abilities: Excellent verbal and written communication skills.
Excellent analytical, creative, and problem-solving skills.
Able to prioritize workload and meet deadlines.
Able to work independently and make sound decisions.
Able to handle stressful situations.
Other Desired Skills: Experience with agency purchase loan transactions
Experience leading individuals in a production environment
Activities and Requirements of this Position:
Repetitive Motion: Movements frequently and regularly required using wrists, hands, and/or fingers.
Communication Skills: Must frequently convey detailed or important instructions of ideas accurately and quickly.
Visual Abilities: Average visual acuity necessary to read, prepare and inspect documents or products.
Hearing: Able to hear average or normal conversations and receive information.
Physical Strength: Sedentary work (sitting most of the time). Able to lift and carry up to 25 lbs.
Reasoning Ability: Able to apply common sense understanding to carry-out detailed instructions and to deal with problems involving variables.
Mathematics Ability: Able to perform basic math skills including adding, subtracting, multiplying, and dividing using a calculator.
Language Ability: Able to write complex sentences using normal word order with present and past tenses, as well as a command of the English vocabulary.
Air-conditioned, smoke-free office setting.
Please note that scheduled attendance requirements may change due to business needs.
Monday through Saturday. Business hours are subject to change. Must be able to work additional hours, weekends, and holidays as needed.